After a spate of less-than-thrilling press about their bad clothes, wacky airplane policies, and terrible numbers, Abercrombie is finally proving that what goes down can come up! First-quarter numbers are in, and revenue is up 14 percent! UP! More important, same-store sales increased one percent, after a 30 percent decline last year. The company still lost $11.8 million, but this is down from $59.2 million in losses a year ago.
The numbers get more shocking:
Same-store sales rose 3% at its namesake stores, dropped 2% at the Hollister chain and rose 6% at abercrombie kids. Direct-to-consumer revenue, which includes Internet and catalog sales, jumped 42%.
So those half-naked people at Hollister may not be helping to drive sales. They're fine to look at from across the street, but at the end of the day, interacting with them is just the most awkward thing ever. Hollister should get a liquor license if they want it to work — there's a reason people drink at strip clubs.